Earthquake Preparedness Action Plan
Gaps in the Iceland Risk Transfer Scenarios
Despite Iceland's high level of seismicity, there are still gaps in the current risk transfer scenarios against earthquakes in terms of recovery and stabilizing the country. These gaps can include:
How fill the gaps in the Iceland Earthquake Early Warning System
Our short-term earthquake risk detection models are a significant improvement over the current Iceland earthquake early warning system in several ways:
Earling models detected Austria seismic risk and authorities informed
Are you prepared for the next earthquakes in Austria? With the country's active seismicity and the potential for major damage to buildings, it is important to be proactive in protecting yourself, your community, and your investments.
Our short-term seismic risk models can help. On March 30, 2021, a magnitude 4.7 earthquake was recorded for an earthquake in Austria near Vienna, and our models were able to detect it a few days in advance. This demonstrates the potential for early warning and the ability to mitigate potential damage and loss of life.
California and Nevada earthquakes events that no longer supripse
We are excited to offer a revolutionary new solution for preparing for and mitigating the risk of earthquakes in California and Nevada. Our advanced AI models have been designed to detect high-risk time-windows, alerting communities days before major earthquakes occur. This technology has been thoroughly tested and has been proven to provide early warning before the most damaging seismic activity. Our model was able to predict the Petrolia's M 6.4 earthquake that happened on December 20th, 2022 and the previous M 6.2 event that occurred 365 days before, a few days in advance.
How hotels are vulnerable to earthquakes
Hotels are complex structures that can be vulnerable to earthquakes in several ways. Some parts of hotels that are particularly vulnerable to earthquakes include:
Dubai's solutions to transfer its earthquake risks
Earthquake risk transfer for Dubai
Dubai is located in a relatively low seismic hazard area, however, it is still susceptible to earthquakes that occur in the nearby region, particularly in the south of Iran. Short-term earthquake risk models can help to detect high-risk time-windows for major earthquakes, which can aid in the preparation and mitigation of their impacts. By providing advance warning of an impending earthquake, these models can help to minimize damage and disruption to industries in Dubai.
Financial support to the population
Our company offers a risk transfer mechanism to support populations affected by earthquakes. This mechanism provides mid-term funds for recovery assistance to help communities rebuild and recover from the disaster.
Short-term earthquake risk models to add stabilize the economy
Short-term seismic risk models help to stabilize the economy after an event by providing financial institutions and insurers with accurate and reliable information about the potential impact of an earthquake on their assets and liabilities. This information allows them to make informed decisions about risk management and mitigation strategies, which can help to minimize the financial impact of an earthquake on their operations.
Earthquake risk transfer mechanism for rebuild and recovery based on earthquake risk model
Short-term earthquake risk models can help inform the pricing and coverage of insurance policies, which can then be used as a tool for transferring the financial risk of earthquakes from individuals and businesses to insurance companies. This allows for more efficient allocation of resources for rebuilding and recovery efforts after an earthquake, as the financial burden of the disaster is spread across a larger pool of people and organizations.
Financial protection through short-term earthquake risk detection
Short-term earthquake risk models can help related entities, such as insurance companies and government agencies, provide financial protection for rebuilding and recovery efforts by giving them a better understanding of the likelihood and potential impact of earthquakes in a specific area. This information can be used to create more accurate and comprehensive insurance policies, as well as to develop disaster response and recovery plans.